Currently I'm seeing JC'ing being most profitable by making the Rare Rings.
The shuffle doesn't seem as effective as it once was. I'm finding that Uncommon Gems are currently selling for squat and are better off being being made into rings/necklaces and selling the Rares and just disenchanting the Uncommon ones.

Because I haven't levelled my Enchanter past the Wrath stage I can disenchant the rings/necklaces however I'm still finding it mostly profitable without that.

Band Of Blood seems to be a big winner on my server, the mats cost about 450g while the Ring itself is selling for 950-1000g

When people are doing the shuffle are you cutting all your gems and praying you get perfects? I just blew through 5k worth of Ore and only got 10 perfect cuts which I will be lucky to get 2k from even cutting the gems that have the highest valued perfects. Should I go back to making rings and necklaces to DE and then sell the enchanting mats? I made a mil doing Ore shuffle during Cata and Im struggling to break even now.

When people are doing the shuffle are you cutting all your gems and praying you get perfects? I just blew through 5k worth of Ore and only got 10 perfect cuts which I will be lucky to get 2k from even cutting the gems that have the highest valued perfects. Should I go back to making rings and necklaces to DE and then sell the enchanting mats? I made a mil doing Ore shuffle during Cata and Im struggling to break even now.

It depends what price you are getting your ore for.
Now lfr opens cut gems mau start to ruse in price, but the free gems from research are really neutralising having an exclusivity of cut. You have to find various strageies and see which one works. You could sit down and do the math on it.

I like they have destroyed the shuffle as was in certain ways. If you got gold cap then you should know what you are doing now. Until a choice becomes clearly profitable then I would avoid going all out on that route. Enchanting mats are also falling in price. LFR will rescue you.

Ghost Iron on my server is around 5g each, 25g per prospect. Uncut green gems are less than a gold each, non perfect cut gems do not sell (and it should be obvious why as nothing short of heroic gear has any sockets in it, and people will buy blue gems for heroic gear). Uncut rare gems range from 80g to 150g each, serpents eyes 40-60g each. Cut rare gems and perfect cut uncommon gems were not selling until late last week and with the opening of LFR are now 250-500g each depending on the cuts and selling quickly. The enchanting market on my server is flooded, scrolls sell in small quantities for 70-150g each depending on the scroll.

Plenty of money can still be made on my server and basically the only thing I can say is diversify the ways you monetize your prospects. Cut blue gems for raiders will be more profitable than uncut gems now that LFR is out and the raiding engine is going to start turning again. Blue rings and necks will sell well as slower leveling characters start to hit 90 and gear up. Raw enchanting materials sold well early but at least on my server have tanked, and scrolls are picking up a little with the release of LFR.

Edit: right now I cut my green gems and look for perfects because cut perfects are selling for 250-500g like cut blue gems, I'm finding a proc rate on perfects to be around 1 in 8 to 1 in 10 which is currently yielding more gold selling them and vendoring the non-perfects in aggregate than making enchanting materials (which I have a huge stockpile of now that I am slowly moving as scrolls).

Theres 3 ilvl 450 items that are selling for 1000-1200. Gonna try those out for a while. Ore on my server is 85-90g a stack. Im trying to cut perfects that are selling for a lot but also dont have 57 other people selling the same thing. The only exception is stuff I know will sell fast like str, agi, int and any of those combined with hit. Also checked places like Noxxic and Icy Veins to see what classes are prioritizing for stats. I mean if a class has crit as its worst stat then cutting stat+crit gems, even if they are selling for 500g each, is useless as no one will buy them where as the stat+haste gem might only sell for 250g but will sell all day cause the class values haste over crit.

But then again this is WoW so you have to factor in idiots that just randomly smash the buy now key while blindly picking gems.

I've been turning a profit on the shuffle though I've been avoiding selling cut gems since the prices are so low. Majority of demand still seems to be from people levelling jc and looking for patterns. Rare rings/necks sell ok at 300-400g, the 450 ilevel stuff no more than 300-500g, disenchanting the greens for mats for enchanting scrolls. Those aren't selling for much but it's still something. I expected a rise in enchanting and cut gems sales today but haven't seen anything so far, number of people actually interested in perfecting themselves for raiding seems quite low.

Probably a 5-10% profit margin on average from money invested in ore at around ~90g per stack, with bad luck you'll quite often lose money.

I bought around 40-50 stacks (I can't recall exactly) of Ghost Iron Ore that each cost 90g a stack. Combined with the extra gems I bought and Ore I spend around 2.5k

Once prospected I made sure I had enough Serpents Eye (So I bought more) to maximise the amount of Rings I could make, while also purchasing 1 extra of X rare colour gem if I only had 1 of 2 of the required amount to further maximise the mats I had without just trying to auction them uncut.

Just so so that some people are crystal clear because I wasn't when I started, the Rare rings can only be taught by JC'ing trainers on Pandaria they are -

Any Rare gems (Which wasn't very many) I had remaining after crafting the Rare rings that couldn't be used for the rings I put on the AH uncut, as I haven't learned a single gem cut that's actually useful (I got the Stam and Intell cut for example).

The remaining uncommon gems were crafted into uncommon necklaces and rings. The Rare procs were auction off at around 100-125g (Although 1-2 were sold at 60g due to their stats) while the uncommon ones were sent to my Enchanter. Any remaining gems were auctioned off for around 2g each, although I'm not sure about the essences. I would assume given the market after being disenchanted and auction you could make a further 500g-1k with the mats from disenchanted items.

Because I haven't levelled him past Wrath Enchanting I was unable to disenchant them so they will remain in his mail until then, however considering profit was made even without this I'm very impressed as on my server the current dust of whom's name I've forgotten sells for 2g each would have added a heck of a lot more profit on top.

So in total I spent 2.5k on the mats and when I collected my gold today I had make 3.5k gold in profit, and could've made more if I had disenchanted the uncommon rings and necklaces.

JC'ing is very strong it would seem. Although this may vary from server to server (Mine being Silvermoon-EU) but I have seen this method pull consistent profit when I looked at many other gold making threads/forums.

On Wildhammer server the problem isnt the demand of the gems being low, its easy to sell the gems, the problem is all the "not-so-smart" ppl underbidding the prizes even though they dont have to. I can post a gem for 200g and the next in line underbids with 50g then the next one underbids with 50g again. When there is a low supply of gems but the prizes are still ridiculously low Ill just by all the gems for 50g each and sell them for 250-300g and they will sell, but then when I come back the next day and all my gems were sold for such a high prize some genius will have posted the same type of gems for 100g and from there on ppl start underbidding again with 50g untill the prizes are so low that you think to yourself - are ppl really that dumb? So on Wildhammer the majority of the JCs just dont understand simple market mechanics, they earned easy gold in cata and/or read a guide on the "jc shuffle" on the internet without truly understanding the interrelations of things. I have over the last 2 weeks been watching if its the same ppl doing these silly underbids but its actually almost always different characters. At some days Im laughing while putting their potential profit in my own pockets at other times Im crying cause it can also be very frustrating that prizes never seem balanced. Ive stopped shuffling altogether and instead just "steal" other ppls obvious profit.

I bought around 40-50 stacks (I can't recall exactly) of Ghost Iron Ore that each cost 90g a stack. Combined with the extra gems I bought and Ore I spend around 2.5k

You lost me at this.
I thought 40x90 or 50x90 would eqyate to 3600g-4500g?

Think the replies show that it varies massively from server to server on whether the rare rings sell. The most importnat aspect is to have ebough serpents eyes.
JC is much redyced in profitability from cata.

Yeah, I would say the most important factor in the variable servers are not so much the mats but the skills/experience of the players on that specific server. The more experienced players you have the more buy/sell will probably exist on those servers - its all about having a stable income thus gold to buy stuff thus making other players having an income. But it is actually possible to help markets on your server get better, dont just sell stuff, buy as well. In games we dont run out of stuff to sell so there will always be a potential for everyone to make gold, but ppl also need to buy stuff for this to happen. If you are stacking up your bank account you are removing gold from the market and the potential for a flourishing market will diminish. If you are seeling stuff at a too low prize compared to the prizes of other items, things are unbalanced and you are making the market bleed - make that shit go around